Alphabet Shares Rose 8% Following Q4 Results
Alphabet Inc. (NASDAQ:GOOG) shares were trading more than 8% higher today afternoon following the company’s reported Q4 results, with EPS of $30.69 coming in better than the consensus estimate of $27.48. Revenue grew 32% year-over-year to $75.33 billion, beating the Street estimate of $72.13 billion. Net ad revenue rose 33% year-over-year, 5% better than the expectations.
Analysts at Oppenheimer increased their price target on the company’s shares to $3,560 from $3,500 following the results, noting that weaker YouTube outlook and reduction in estimates for AppStore was offset by higher Search and GCP estimates.
The company also announced a 20-1 stock split, effective July 1, which is expected to increase the retail demand.
| Symbol | Price | %chg |
|---|---|---|
| 035420.KS | 187300 | 0 |
| 035720.KS | 46450 | 0 |
| 0700.HK | 395 | 0 |
| GOOG.NE | 29.77 | 0 |
Alphabet Shares Gain 9% Following Q1 Earnings Beat & First-Ever Dividend
Alphabet (NASDAQ:GOOG) shares soared over 9% intra-day today, reaching a record high, following the company's announcement of its fiscal Q1/24 results, which exceeded Wall Street expectations.
The company reported earnings per share (EPS) of $1.89, surpassing the consensus estimates of $1.51. Revenue also topped expectations, coming in at $80.54 billion against the anticipated $78.71 billion.
The quarter saw a significant year-over-year increase in operating income, rising 46% to $25.5 billion, with net income reaching $58 billion, or $1.89 per diluted share.
In a strategic move, the company declared its first-ever dividend at 20 cents per share and announced a new $70 billion share repurchase program, signaling a robust return of capital even as it continues to heavily invest in expanding its data center capabilities, particularly in generative AI.
Alphabet Reports Better Than Expected Q1 Earnings
Alphabet (NASDAQ:GOOG) reported its Q1 earnings results yesterday, with EPS of $1.17 beating the Street estimate of $1.08. Revenue grew 3% year-over-year to $69.8 billion, roughly in line with the company’s outlook, but significantly better than the Street estimate of $68.87 billion.
According to the analysts at Deutsche Bank, the main takeaway from the results was the stabilizing growth trends at Search and YouTube, which beat Street expectations by approximately 2% and 1%, respectively. YouTube also showed promising signs of revenue growth stabilization, increased short engagement, and improving monetization trends. Cloud revenue grew 28% year-over-year, in line with Street estimates.
Alphabet Reports Q2 Miss, But Shares Surge 7%
Alphabet Inc. (NASDAQ:GOOG) shares closed more than 7% today despite the company’s reported Q2 miss. Quarterly EPS came in at $1.21, worse than the Street estimate of $1.28. Revenue increased 13% year-over-year to $69.69 billion, compared to the Street estimate of $70.04 billion.
The quarter was highlighted with overall "uncertainty" given the challenging macro environment. Search continues to be resilient given large number of advertisers and the performance nature of ads. The company is slowing hiring, but the impact will mostly be felt in 2023.
Analysts at Oppenheimer reduced their price target to $155 from $165, now assuming slower revenue over the next four quarters, even though Search advertising remains resilient.
Alphabet Shares Down 3% on Q1 Miss, YouTube Ad Revenue Growth Slows
Alphabet Inc. (NASDAQ:GOOG) shares closed more than 3% lower today following the company’s reported Q1 results, with EPS coming in at $24.62, missing the consensus of $25.96. Revenue of $68 billion came in slightly below the consensus estimate of $68.1 billion.
According to the analysts at Deutsche Bank, the most concerning part of the quarterly report was the dramatic year-over-year slowdown in YouTube advertising revenue growth. However, the analysts mentioned they believe many challenges are temporary, such as tough year-over-year comps, dilutive Shorts engagement, and slowing brand advertising spend, mostly in Europe.
